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ECB’s Nagel Says More Interest-Rate Hikes Will Be Necessary

  • Inflation fight brings burdens with it, Bundesbank chief says
  • Remarks suggest hawkish view even in face of growth risks
Joachim Nagel

Joachim Nagel

Photographer: Alex Kraus/Bloomberg
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The European Central Bank will need to raise borrowing costs again even if that hurts economic growth, according to Bundesbank President Joachim Nagel.

After 125 basis points of interest-rate hikes, “the prospect of further tightening steps was raised, and from my point of view will have to come,” he said in a speech at the University of Lucerne, Switzerland, on Friday.